Shearman And Sterling

News June 17, 2014

Shearman & Sterling Advises Coldwater Creek in its Bankruptcy

Shearman & Sterling is advising Coldwater Creek and its debtor affiliates in a chapter 11 bankruptcy filed in the Bankruptcy Court in the District of Delaware on April 11, 2014. As part of the representation, the Shearman & Sterling team negotiated a $74 million DIP financing and held a 32-hour auction for the debtor’s intellectual property, customer lists, inventory and furniture, fixtures and equipment for a total bid of $161 million. After more than a year of trying to sell the company but finding no buyer or other solution to keep the company viable, the board determined that a bankruptcy liquidation of the nationwide 32-store chain, which was founded in Idaho 30 years ago, was its only alternative.

The Team